Towards the end of 2023, the Avalanche Foundation announced its intention to purchase community coins specific to the Avalanche Blockchain network. This ongoing effort is part of the Foundation’s broader Culture Catalyst program, which aims to encourage Web3 creators, inspire innovation on Avalanche, and help further adopt the blockchain. The Foundation is now making a new move.
The Foundation Will Invest in These Cryptocurrencies
In a statement by the Foundation, it was indicated that support would be provided for five community coins:
“Community coins have become vital milestones for today’s Web3. They represent the fun, spirit, uniqueness, and interests of various crypto communities. The Avalanche Foundation aims to recognize these qualities and support these communities.
Today, we announce our support for the first five community coins by the Avalanche Foundation. In addition, the Foundation also announces its intention to keep the community updated about these assets through regular announcements, ensuring transparency.
Each cryptocurrency held by the Foundation meets the eligibility criteria set by the Foundation for coin projects. These criteria help determine a coin’s commitment to Avalanche and fair Web3 practices. As of today, the community coins held by the Foundation are:
Coq Inu
Gecko
Kimbo
NoChill
Tech
The Foundation Expresses Its Intent to Act Agilely
In a statement by the Foundation, it was reminded that the Foundation is aware of how quickly the crypto community is progressing and is acting agilely.
The Foundation also stated that it is trying to adjust the eligibility criteria appropriately to support community coins that may be early but have the reliability to create tools for the Avalanche ecosystem.
